https://www.taxtmi.com/circulars?id=8756 Spreadover of income may be permitted when evidence shows assets represent income of earlier years; Sections 68-69B are enabling and do not preclude allocation to prior years. Spreadover must not be used to shift income to years before business commencement, after peak credit, or into loss years without reasonable basis. The Commissioner of Income Tax may grant spreadover where circumstantial evidence (large sales, licences, quotas, etc.) indicates multi year earning, subject to a conventional duration limit and higher approval if that limit is to be exceeded. en-us Mon, 12 Oct 1970 00:00:00 +0530 Thu, 26 May 2011 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8756 Spreadover of income may be permitted when evidence shows assets represent income of earlier years; Sections 68-69B are enabling and do not preclude allocation to prior years. Spreadover must not be used to shift income to years before business commencement, after peak credit, or into loss years without reasonable basis. The Commissioner of Income Tax may grant spreadover where circumstantial evidence (large sales, licences, quotas, etc.) indicates multi year earning, subject to a conventional duration limit and higher approval if that limit is to be exceeded. Circulars Income Tax Mon, 12 Oct 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8756